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2023/01/24 / Erste Group Research

Raiffeisen Landesbank Vorarlberg

RLB Vorarlberg defines itself as a regional universal bank. As the central institution of the Vorarlberg Raiffeisen banks, it provides central services for the primary credit institutions. At the same time, the institute acts as a retail bank in Bregenz and serves the upscale corporate customer business in the region and in southern Germany.

In the financial year 2021, the bank's profit before tax increased significantly from EUR 12.3mn to EUR 43.2mn. This was mainly due to the resumption of dividend payments by RBI, which had been suspended in the previous year on the recommendation of the FMA. RLB Vorarlberg's pre-tax profit declined by 85.8% to EUR 2.4mn in H1 2022. The absence of the dividend from the investment in RBI and one-off effects in the previous year were the main reasons for this.

RLB Vorarlberg issues covered bonds that are collateralized by a mortgage cover pool. Since November 2016, Moody's has assigned an 'Aaa' rating to the covered bond program. The cover assets are 100% originated in Vorarlberg and 77% of the loans are residential.

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General information

AuthorErste Group Research
Date2023/01/24
Languageen
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria
Currency in focusEuro
Sector in focus-
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